The Mistake Most Marketing Agencies Make
I hear it time and time again, Marketing Agencies only retain Clients for a 90 day period, their initial agreement.
Does this really sound natural to you? Let's break it down.
The purpose of a Marketing Agency is to guide a company towards growth. Now every company that has been in business for at least 1 year knows that growth takes time.
So why on earth do Marketing Agencies have a HUGE churn rate when their sole purpose is to help a company grow?
Before hiring an Agency, a company will do their homework on the skill, reputation and success-pattern of the Agency, so how can it all go so wrong in just 90 days.
The fundamental flaw is in how these Agencies are constructed and developed. In my experience a growing company does not expect overnight results, they take a 12 month view of things. Yes they may discuss performance, but deep down they are focused on one key aspect:
Feeling like they are in safe hands.
Marketing and Business Development is a complex world as you are essentially trying to influence consumer behaviour. The very reason a company hires an agency in the first place.
Countless Agencies today are built on the back of online courses - which all focus on utilizing Facebook Ads to increase exposure. The Agency Owners are taught how to set up a campaign, and sell that campaign to a client.
There are two fundamental flaws here (and please excuse my "passion"):
1. The Client doesn't give a flying SHIT about Facebook Ads
2. The Agency Owner has no idea as to how to care for a Client
Markets take turns, they are seasonal, there are times when people don't spend money.
How do you explain this to a Client?
How do you keep a Client and retain their business through the rough times?
By driving value.
Picture the scene, sales drop because consumers are on Summer Vacation:
Client - "What's going on? Why are the sales down?"
Agency Owner - "Uh, I'm not sure but your Click-Through-Rate is 7%".
Seriously. That's not going to pay the bills.
So, how do you effectively communicate and nurture you Client, giving them the confidence that you know what you are doing?
By understanding their business.
Rather than becoming a one-stop shop and offering Facebook Ads, take some time and understand their business. Understand their Customer Journey and become their "Chief-Marketing-Officer".
When you do, you become far more valuable than the "Facebook Ads Guru".
By learning about their business and twinning this with your experience, you become the go-to person when it comes to strategic decisions. Have strategy calls with them, plan various avenues and don't rely on one skill.
In short, treat your agency like a business and DRIVE VALUE.